Well-anchored inflation expectations are a key factor for achieving economic stability. This paper provides new empirical results on the anchoring of long-term inflation expectations in the euro area. In line with earlier evidence, we find that euro area inflation expectations have been anchored until fall 2011. Since then, however, they respond significantly to macroeconomic news. Our results obtained from multiple endogenous break point tests suggest that euro area inflation expectations have remained de-anchored ever since.


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    Title :

    The (De-)Anchoring of Inflation Expectations


    Subtitle :

    New Evidence from the Euro Area


    Contributors:

    Publication date :

    2015



    Type of media :

    Miscellaneous


    Type of material :

    Electronic Resource


    Language :

    English




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